Agenda - 04-10-2014 - 2 - Laserfiche WebLink

Browse Search

9 Note: the Solid Waste Management Department has instituted a re-build program for its heavy pieces of equipment (not trucks) rather than being replaced. Re-building, or overhauling, is significantly less expensive than replacing with new equipment, thereby extending its life and reducing costs. Results of this re-build program are reflected in reduced equipment costs shown in the CIP, when compared to the current CIP. Sportsplex— includes funding in Year 1 (FY 2014-15) for a Mezzanine addition at the pool area to include dedicated member change areas and lockers, workout rooms, and a senior/adult cardio strength center. Year 2 (FY 2015-16) includes funding of $1,900,000 for a new building addition that would house an indoor turfed field for soccer, lacrosse, senior walking, running, Kidsplex functions, and youth/adult flag football leagues. A second new building addition includes funding of $900,000 also in Year 2 for a second new building addition that would house a regulation sized high school/college basketball court, including bleacher seating, for youth and adult basketball leagues, court based fitness programs, volleyball, and Kidsplex activities. Projected revenue from these new projects would generate enough funds to cover the additional annual debt service needed for these projects. School Projects — Highlights Chapel Hill-Carrboro City Schools — Based on the Schools Adequate Public Facilities Ordinance (SAPFO) most recent November 15, 2013 projections, the following new schools/additions would be needed: Middle School #5 to open in FY 2020-21; Elementary #12 to open in FY 2020-21; and Carrboro High School Additions to open in FY 2023-24, and these funding impacts are reflected mostly in Years 6-10. Pay-As-You-Go (PAYG) funds are estimated are estimated at a 1.5% annual growth rate and the Lottery Proceeds are held constant throughout the 5-year CIP period. Orange County Schools — Based on the SAPFO's recent November 15, 2013 projections, the following new schools/additions would be needed: Elementary #8 to open in FY 2023-24; and Cedar Ridge High School Classroom Addition to open in FY 2022-23. 1.5% annual growth in PAYG funds and constant Lottery Proceeds are assumed throughout the 5-year CIP period. Note: Funds to address both school systems' Facilities Assessment Report needs are not included in the Recommended CIP. The Reports reflected needs totaling approximately $330 million for both school systems. The size and timeframe of a future Bond Referendum and/or Alternative Financing that could possibly address facility needs has not yet been decided by the Board of Commissioners. Appendices — Highlights County Debt Service and Debt Capacity— Based on the Manager's recommended funding, the County's annual debt service as a percent of the General Fund budget would remain under the 15% Debt Service Policy throughout the 5-year CIP period, but given the funding scenarios currently in the CIP for Years 6-10, it would reach 15.44% in Year 6 (FY 2018-19) and rise to a high of 19.15% in Year 8 (FY 2021-22).